On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a good session and charged higher. The benchmark index rose 0.6% to 8,589.2 points.
Will the market build on this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to rise on Friday following a decent night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 27 points or 0.3% higher this morning. On Wall Street, the Dow Jones was up 0.4%, the S&P 500 rose 0.3%, and the Nasdaq edged 0.1% higher.
Oil prices fall
It could be a poor finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 2.2% to US$66.89 a barrel and the Brent crude oil price is down 1.85% to US$68.90 a barrel. Traders were selling oil amid bearish demand forecasts.
Buy Telix shares
Telix Pharmaceuticals Ltd (ASX: TLX) shares are in the buy zone according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $34.00 price target on the radiopharmaceuticals company's shares. It said: "The approval of the Biological Licence Application for Zircaix is now looming with a PDUFA date of 27 August. If approved, Zircaix will become the first radiopharmaceutical imaging agent to receive a label for the imaging of any renal mass."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent finish to the week after the gold price rose overnight. According to CNBC, the gold futures price is up 0.4% to US$3,333.7 an ounce. Trade tensions appear to be behind this rise.
Hold Netwealth shares
Netwealth Group Ltd (ASX: NWL) shares fell on Thursday after releasing a softer than expected quarterly update. This morning, Bell Potter responded to the update by retaining its hold rating on the investment platform provider's shares with an improved price target of $34.50. This is broadly in line with its current share price. It said: "NWL screens weaker on Rule of 40 metrics over our forecast period – not warranting the current multiple, particularly given consensus net flow expectations are high."
